ARM (NASDAQ:ARM) Stock Price Expected to Rise, TD Cowen Analyst Says

ARM (NASDAQ:ARM) had its price target lifted by TD Cowen from $150.00 to $165.00 in a research note released on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

ARM has been the topic of several other reports. Barclays upped their price objective on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. William Blair began coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark started coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $107.00 to $190.00 in a report on Friday, July 19th. Finally, Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $145.57.

ARM Stock Performance

ARM stock traded down $5.17 during midday trading on Thursday, hitting $145.48. 3,619,498 shares of the company’s stock were exchanged, compared to its average volume of 10,908,917. The stock has a 50-day moving average price of $141.65 and a two-hundred day moving average price of $137.54. ARM has a 52-week low of $49.82 and a 52-week high of $188.75. The company has a market cap of $152.44 billion, a P/E ratio of 375.83, a PEG ratio of 6.27 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the company posted $0.36 EPS. ARM’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that ARM will post 0.86 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of ARM by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 9,992 shares of the company’s stock worth $1,429,000 after acquiring an additional 2,256 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in ARM during the 3rd quarter valued at $772,000. Banque Cantonale Vaudoise boosted its stake in ARM by 94.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,865 shares of the company’s stock valued at $553,000 after acquiring an additional 1,874 shares during the last quarter. Claro Advisors LLC lifted its position in shares of ARM by 16.6% in the 3rd quarter. Claro Advisors LLC now owns 2,051 shares of the company’s stock worth $293,000 after buying an additional 292 shares during the last quarter. Finally, LJI Wealth Management LLC bought a new position in shares of ARM in the 3rd quarter worth about $629,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.